New Zealand's unemployment rate declined to 3.9 percent in the third quarter of 2018 from a downwardly revised 4.4 percent in the previous period and well below market expectations of 4.5 percent. It was the lowest jobless rate since the second quarter of 2008 as the number of unemployed went down by 13 thousand to 109 thousand and employment rose by 29 thousand to 2.663 million. The employment rate rose to a record 68.3 percent in the third quarter and the labour force participation rate went up to 71.1 percent. Unemployment Rate in New Zealand averaged 6.03 percent from 1985 until 2018, reaching an all time high of 11.20 percent in the third quarter of 1991 and a record low of 3.30 percent in the fourth quarter of 2007.

New Zealand Unemployment Rate
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New Zealand Unemployment Rate Drops to Near 10-Year Low


New Zealand's unemployment rate declined to 3.9 percent in the third quarter of 2018 from a downwardly revised 4.4 percent in the previous period and well below market expectations of 4.5 percent. It was the lowest jobless rate since the second quarter of 2008.

The number of unemployed people decreased by 13 thousand to 109 thousand, mainly reflecting 11 thousand fewer unemployed youth (15–24-year-olds), and employment rose by 29 thousand to 2.66 million. The employment rate rose to 68.3 percent in the September quarter (vs 67.8 percent in Q2), the highest recorded rate since the series began in 1986. The labor force participation rate increased to 71.1 percent in the third quarter from 70.9 percent in the previous period.

For women, the unemployment rate fell to 4 percent, down from 4.6 percent last quarter. For men, the unemployment rate declined to 3.9 percent, down from 4.2 percent.

The underutilisation rate dropped to 11.3 percent from 12 percent last quarter.

Annual wage inflation, as measured by the labor cost index, eased to 1.8 percent in the third quarter of 2018 from 1.9 percent in the previous period, as private sector wage growth slowed to 1.9 percent from 2.1 percent. Meanwhile, public sector wages rose 1.5 percent in the September quarter, slightly faster than a 1.4 percent increase in the previous three-month period. On a quarterly basis, wages increased by 0.5 percent, the same pace as in the previous quarter.


Statistics New Zealand | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/7/2018 12:25:17 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-05-01 10:45 PM Unemployment Rate 4.4% 4.5% 4.4% 4.6%
2018-07-31 10:45 PM Unemployment Rate 4.5% 4.4% 4.4% 4.5%
2018-11-06 09:45 PM Unemployment Rate 3.9% 4.4% 4.5% 4.5%


New Zealand Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.90 4.40 11.20 3.30 percent [+]
Employed Persons 2663.00 2633.00 2663.00 1499.00 Thousand [+]
Unemployed Persons 109.00 122.00 189.00 69.00 Thousand [+]
Employment Change 1.10 0.50 2.50 -1.80 percent [+]
Labor Force Participation Rate 71.10 70.90 71.10 63.00 percent [+]
Labour Costs 1174.00 1168.00 1174.00 700.00 Index Points [+]
Productivity 168.99 167.97 171.61 117.96 Index Points [+]
Job Vacancies 190.92 187.91 200.70 55.20 Index Points [+]
Job Advertisements 45508.88 44885.69 45508.88 14139.22 [+]
Wages 31.39 31.08 31.39 13.07 NZD/Hour [+]
Wages in Manufacturing 29.92 29.37 29.92 12.44 NZD/Hour [+]
Minimum Wages 16.50 15.75 16.50 10.25 NZD/Hour [+]
Population 4.84 4.75 4.84 2.37 Million [+]
Retirement Age Women 65.00 65.00 65.00 65.00 [+]
Retirement Age Men 65.00 65.00 65.00 65.00 [+]
Youth Unemployment Rate 10.90 12.40 15.30 10.30 percent [+]
Part Time Employment 554.00 545.00 554.00 264.00 Thousand [+]
Employment Rate 68.30 67.80 68.30 56.40 percent [+]
Full Time Employment 2107.00 2093.00 2107.00 1177.00 Thousand [+]


New Zealand Unemployment Rate

In New Zealand, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - New Zealand Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Unemployment Rate - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.90 4.40 11.20 3.30 1985 - 2018 percent Quarterly




Country Last
South Africa 27.50 Sep/18
Spain 14.55 Sep/18
Brazil 11.90 Sep/18
Turkey 10.80 Jul/18
Italy 10.10 Sep/18
Argentina 9.60 Jun/18
France 9.10 Jun/18
Euro Area 8.10 Sep/18
Saudi Arabia 6.00 Jun/18
Canada 5.80 Oct/18
Indonesia 5.34 Jun/18
Australia 5.00 Sep/18
Russia 4.50 Sep/18
South Korea 4.00 Sep/18
United Kingdom 4.00 Aug/18
China 3.82 Sep/18
Netherlands 3.70 Sep/18
United States 3.70 Oct/18
Mexico 3.60 Sep/18
India 3.52 Dec/17
Germany 3.40 Sep/18
Switzerland 2.40 Oct/18
Japan 2.30 Sep/18
Singapore 2.10 Sep/18


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